Investing June 5, 2002

Top UK Managers Hurt in 2001

June 5, 2002 (PLANSPONSOR.com) - The top five investment managers of the UK's segregated pension funds saw the value of their businesses plummet in 2001, a survey by the Financial Times finds.
Reported by

The newspaper blames the decline on volatile markets and a trend that has seen pension funds move towards specialist managers.

According to the survey, between 2000 and 2001,

  • the value of Merrill Lynch Investment Managers (MLIM)’s segregated pension business fell by 24.7% from £63.7 billion to £48 billion,
  • Schroders Investment Management saw its segregated pension fund business decline by 27.7% from £53.8 billion to £38.9 billion,
  • Deutsche Asset Management (DeAM) reported a decline of 7.9%,
  • Barclays Global Investors saw a drop off of 7.2%,
  • while the value of UBS Global Asset Management’s segregated pension business dropped by 12.2% from £26.9 billion to £23.6 billion.

On the other hand, according to the FT,

  • Boston-based State Street Global Advisors recorded a 145.7% increase in its pension fund business from  £4.4 billion to £10.8 billion,
  • while Legal & General upped its business by 99.2%, 
  • Capital International saw an increase of 24.2%, and 
  • Morley Fund Management increased its business by 23.4%

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